Bank Andara helps microfinance institutions to bank 40 million in Indonesia

Indonesia’s Bank Andara has partnered with Fundamo, a mobile financial services provider, to launch AndaraLink, a new network that is designed for microfinance institutions MFIs. The new financial services network will enable MFIs to offer financial services to more than 40 million previously unbanked Indonesians through mobile terminals which are connected to a mobile network.

“MFIs need a fast, flexible, secure and innovative technical infrastructure to deliver financial services to a disparate populace in a cost efficient and scalable way,” said Irianto Kusumadjaja, chief operating and information officer at Bank Andara. “Instead of trying to reinvent the wheel, Bank Andara has combined existing MFI infrastructure with...